British Virgin Islands(B.V.I.)
The British Virgin Islands, located south-east of Florida, on the east of Puerto Rico west of Atlantic Ocean, is a holiday resort in West Indies on Latin America and the Caribbean, consists of 40 islands; the total population of 16,500 people, including about three quarters of the residents lives in the capital Road Town, where the largest island of Tortola.
The official language is English, fiat money is USD, British colonized BVI since 1666, in 1967 British constitution endow BVI autonomous status, the Governor and the local parliament has administrative and legislative powers, can receive financial aid from British government every year, so the possibility of independence from Britain is very low, politically is very stable.
BVI is British's colony, so the local government would be abidance by the British common law, in 1984 passed the International Business Corporation Ordinance, start the international company business. And the company we set up in the local government International Business Companies Registry registered legally is base on International Business Corporation Ordinance, CAP 291, in accordance with the provisions of the above law, the company are not required to report tax reports to local government, no need to set up accounts, as long as to pay a fixed government fee to annul, so there is no burden of the tax.
Advantages & Functions
Why BVI can stand out in most tax-free paradise, become the most well-known areas to Taiwanese? In addition to a long history, its advantages are as follows：
1.High privacy—Details of the directors no need to included in any public record.
2. High acceptable of banks—almost all designated foreign exchange banks in Taiwan can establish BVI company OBU account.
3.Easy to set up—only need one or more shareholder/director information than can register to set up.
4.Easy to maintain—without presenting the company annual report and audited accounts nor required to convene the Annual General Meeting. Only need to pay a fixed government fee to annul which can sustain the company.
The main position as "transaction" companies.EX：two, three, four corners of the export trade operation. It can also be used in investment holding but should pay attention to its registered capital shortage problem, because the standard registered capital amounted is USD 50,000, compared to other offshore companies is the lower amount of registered capital. But when needs the bank financing, can reflect better financial statements.
BVI is default by Taiwan government, has been included in "The List of Country Reciprocal Rights for Foreigners to Acquire or Set Land in Taiwan", the citizen of the country obtain or setting the land in Taiwan, no need to proof of reciprocity file. (March 27, 2001, Ministry of the Interior No. 9004788). Therefore if want to obtain or set the land, establish a branch in Taiwan with the foreign identity, only the BVI or the Cayman Islands to practice it.
The advantage is the high-profile and high usage among Taiwan's businessman, but also become the attack object of other international business company areas.
Specification Of B.V.I Incorporation
1.Company's English name；
2.English contact address；
3.Minimum 1 shareholder/director passport copy；
4.Standard register of 50,000 shares (can increase, will increase government fees)